The 10 Largest Italian Companies With Market Caps Above EUR 10 Bil Have Had Their Audited Earnings Flat Out Collapse Since 2010 and Especially So in the Two Most Recent Years ...................................................................................... 2016 Audited Total Losses of EURO 1.729 Bil and 2015 Audited Total Earnings of Only EURO 1.314 Bil For Total Two-Year Losses for 2015 and 2016 Combined of EURO 415 Mil ...................................................................................... Total Two-Year Audited Earnings for 2013 and 2014 Combined Were Only EURO 5.354 Bil ...................................................................................... Total Two-Year Audited Earnings for 2011 and 2012 Combined Were Only EURO 1.457 Bil ...................................................................................... On the Other Hand, Total Two-Year Audited Earnings for 2010 and 2011 Combined Were a Blistering EURO 34.113 Bil ...................................................................................... And Total Two-Year Audited Earnings for 2007 and 2008 Combined Were an Even More Blistering EURO 52.488 Bil

From a review of the nice Google Finance Website and both company investor relations websites and the US SEC website, I found Companies headquartered in Italy with Stock Market Capitalizations of more than EURO 10 bil now.

Excluded from these 10 Italian Companies were one which had its financial statements denominated in US$s and another one which was a Utility Company.

Driving these horrific total earnings of these Italian Companies in the most recent six years were financial companies.  UniCredit generated total losses of EURO 33 Bil in the three years 2016, 2013 and 2011 combined.  And Intesa Sanpaolo generated total losses of EURO 12.7 Bil in the two years 2013 and 2011 combined.

Further, Oil & Gas Company Eni posted Total Losses of EURO 8.4 Bil in the two most recent years 2016 and 2015 combined.  On the other hand, Eni generated Total Earnings of EURO 40.8 Bil in the five years from 2007 through 2011 combined.  

Below here are the reported Audited Earnings (Losses) From Continuing Operations for each of  these 10 Italian Companies for all years reported from 2007 through 2016:

			2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
		Most	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited
		Recent	Net	Net	Net	Net	Net	Net	Net	Net	Net	Net
	City	2016	Income	Income	Income	Income	Income	Income	Income	Income	Income	Income
Italian Companies	HQs	FYE	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
			mil Euros	mil Euros	mil Euros	mil Euros	mil Euros	mil Euros	mil Euros	mil Euros	mil Euros	mil Euros
Generali SpA	Trieste	Dec	2,239	2,295	1,921	1,657	397	1,153	1,968	1,670	1,064	3,375
Intesa Sanpaolo SpA	Turin	Dec	2,213	2,746	1,358	(4,526)	1,654	(8,127)	2,082	2,769	1,646	3,321
TIM SpA	Rome	Dec	1,919	50	1,419	(579)	(1,379)	(4,676)	3,250	2,218	2,217	2,459
Fiat Chrysler Automobiles NV	London	Dec	1,814	93	359	2,050	661	1,203	222	(345)	1,721	2,054
Atlantia Group	Rome	Dec	1,243	967	709	709	818	769	708	582	721	376
Luxottica Group SpA	Milan	Dec	852	807	646	549	539	452	383	305	398	498
Snam SpA	San Donato Milanese	Dec	591	796	1,198	917	779	790	1,106	732	530	594
Ferrari NV	Maranello	Dec	400	290	265	246	233	196	202
Eni SpA	Rome	Dec	(1,044)	(7,399)	1,808	4,959	4,947	7,877	7,264	5,317	9,558	10,809
UniCredit SpA	Milan	Dec	(11,956)	669	2,512	(12,823)	1,397	(8,226)	1,645	2,035	4,529	6,618
Total all 10			(1,729)	1,314	12,195	(6,841)	10,046	(8,589)	18,830	15,283	22,384	30,104
Two-Year Total Earnings:
….. 2015 and 2016			(415)
….. 2013 and 2014			5,354
….. 2011 and 2012			1,457
….. 2009 and 2010			34,113
….. 2007 and 2008			52,488